Hong Kong Stock Concept Tracking | In August, the NEV market was hot, wholesale sales increased 24% year-on-year, and the “Golden Nine, Silver Ten” peak season can be expected (with concept stocks)

The Zhitong Finance App learned that on September 2, according to information from the Passenger Link branch, according to comprehensive monthly preliminary data estimates, the wholesale sales volume of NEV manufacturers nationwide in August was 1.3 million units, up 24% year on year, up 10% month on month; from January to August of this year, they sold 8.93 million vehicles, up 34% year on year. BOC International pointed out that many new models are to be launched in the third and fourth quarters of 2025, including the Ideal i6, NIO ES8, and Wanjie M7, which will further enrich market supply. As the “Golden Nine Silver Ten” traditional peak sales season approaches, various car companies have introduced preferential policies one after another. BOC International is optimistic about NEV sales in September.

The Passenger Federation branch pointed out that with the recent electrification breakthroughs of major car companies and the launch of some popular new products, it led to high structural growth in the car market in August. In August, wholesale sales of new energy from manufacturers such as Geely, Zero Sport, Dongfeng, Xiaopeng, NIO, Dongfeng Nissan, and GAC Toyota reached new monthly highs, while car companies such as Great Wall Motor and FAW Hongqi also recorded excellent monthly highs in every month of the year. Many second-tier car companies have performed extremely well, boosting overall sales of new energy vehicles.

On September 1, major car companies released sales data for August as scheduled, and the new energy market is still booming. Judging from the published sales data for August, traditional car giants still control the basic market. With an absolute advantage of 373,600 vehicles, BYD (01211) is at the top of the list, almost equalizing the results for the same period last year. Of these, pure electric passenger cars sold 199,600 units, accounting for more than 50%, and plug-in hybrid models continued to perform strongly.

Geely Auto (00175) followed with sales of 147,300 new energy vehicles, up 38% year over year. It is particularly noteworthy that Geely Galaxy sold 110,600 units in August, a year-on-year increase of 173%, a record high.

SAIC Motor Group (600104.SH) sold 129,800 new energy vehicles in August, up 49.89% year on year. Its Zhiji Auto sold nearly 6,600 vehicles, an increase of 42.9% over the previous year. The new Zhiji L6 ranked in the top three sales volume in the medium and large pure electric sedan market of 200,000 yuan or more.

In terms of the new faction, Zero Sports Auto (09863) reached a record high with a delivery volume of 571,000 vehicles, making it the biggest underdog of the new forces. Xiaopeng Motors (09868) and NIO (09866) also delivered 37,700 vehicles and 31,300 vehicles respectively, which also set the best results in history. The Huawei-supported Hongmeng Zhixing series delivered 4,579 new cars in August. The average transaction price reached 380,000 yuan, making volume and price soar. The M9 delivered 1,067 vehicles, becoming the market sales champion above the 500,000 level; the M8 delivered 21,537 vehicles, winning the 400,000-class market sales title.

Furthermore, Xiaomi continued to deliver more than 30,000 vehicles in August. With its brand influence, intelligent advantages, and strong supply chain integration capabilities, it quickly gained a foothold in the market. Yipai Technology, a subsidiary of Dongfeng Group, sold 2,9,118 vehicles in August, up 62.39% year on year; Rantu Auto delivered 13,505 vehicles in August, up 119 percent year on year. With traditional car companies' supply chain support and technology accumulation, these brands are rapidly seizing market share.

BOC International pointed out that many new models are to be launched in the third and fourth quarters of 2025, including the Ideal i6, NIO ES8, and Wanjie M7, which will further enrich market supply. As the “Golden Nine Silver Ten” traditional peak sales season approaches, various car companies have introduced preferential policies one after another. BOC International is optimistic about NEV sales in September. I am optimistic that Xiaopeng Motor's G7/new P7/extended range models will be launched one after another, leading to an increase in sales volume and gross margin; Geely will promote internal resource integration after privatizing Krypton; and the Celis Q series will further expand the high-end market and drive an increase in profitability.

Minsheng Securities released a research report saying that according to preliminary estimates from the Passenger Federation, the total retail market size of passenger cars in the narrow sense of the word was about 1.94 million vehicles in August, up 2.0% from last year and 6.2% from the previous month. Among them, retail sales of new energy are expected to reach 1.1 million, with a penetration rate of about 56.7%. In August, the country continued to regulate the competitive order of new energy vehicles, market terminal discounts contracted, and the price system stabilized. At the same time, new batches of subsidy funds have been put in place one after another, and various regions have gradually restarted trade-in policies and optimized subsidy mechanisms. Terminal consumption potential has been further unleashed, and the overall market is growing steadily.

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BYD (01211): BYD sold 373,600 vehicles in August. Of these, the overseas growth rate was remarkable. It exported 80,800 new energy vehicles in the same month, more than double that of last year, and the global layout accelerated.

Geely Auto (00175): Geely's total sales volume in August was 252,200 vehicles, up 38% year on year and 5% month on month. Its new energy sales growth rate was impressive. The sales volume of new energy models was 147,300 units, up 95% year on year and 13% month on month. New energy accounted for 59%, and the new energy transformation achieved remarkable results.

SAIC Motor Group (600104.SH): On September 1, SAIC Motor Group officially announced that the total vehicle sales volume in August was 36,3371 units, up 41.04% year on year, of which 129,771 new energy vehicles were sold, up 49.89% year on year.

Zero Sports Auto (09863): After breaking the 50,000 vehicle mark for the first time in July this year, the sales momentum in August remained unabated, reaching 571,000 units. This is the eighth month that Zero Sports sales have continued to grow, and sales have exceeded 50,000 units for two consecutive months.

Xiaopeng Motors (09868): In August, Xiaopeng Motor delivered a total of 37,700 new cars, up 169% year on year and 3% month on month, reaching a record high. From January to August 2025, Xiaopeng Motor delivered a total of 271,600 new vehicles, an increase of 252% over the previous year.

NIO (09866): In August 2025, NIO delivered 31,300 new cars, an increase of 55.2% over the previous month, and sold 103,000 more units than the previous month, reaching a record high.